By George Glover
Stock futures were trading mostly to the upside Thursday as investors reacted to a slew of Big Tech earnings and a sudden spike in oil prices.
These stocks were making moves in premarket trading:
Alphabet rose 5.9% after the Google parent reported strong first-quarter earnings and a 63% jump in sales for the all-important cloud division. That helped investors to look past capital spending doubling as Alphabet plows more money into artificial intelligence.
Meta Platforms sank 8.2% after the Facebook owner topped analysts' expectations for first-quarter earnings but raised its capital expenditures guidance for the year. The market is worried because without a public cloud business Meta's big AI spending plans have yet to pay off.
Microsoft slid 1.5% after the tech company's lofty capital spending guidance overshadowed solid revenue growth for the Azure cloud-computing business. For the year, Microsoft expects capex of about $190 billion, well ahead of Wall Street's 2026 estimate of $160 billion.
Amazon.com added 2.8% after the online retailer posted a first-quarter earnings and revenue beat and issued positive commentary regarding its AI chips. Revenue from the Amazon Web Services cloud unit rose 28% from a year ago for its fastest growth in 15 quarters.
Qualcomm surged 11% after the chip maker reported better-than-expected fiscal second-quarter earnings and signaled to investors that its pivot into data-center processors is gaining traction. Initial shipments of a custom data-center chip are expected to begin in the December quarter with a hyperscaler, CEO Cristiano Amon told analysts.
EBay fell 1.5% after the online auction site issued disappointing second-quarter guidance, which overshadowed an earnings beat.
Ford slid 0.8% after the auto maker smashed analysts' first-quarter earnings expectations and raised its guidance, but failed to quell concerns about rising costs.
Altria, Bristol Myers Squibb, Cardinal Health, Caterpillar, ConocoPhillips, Eli Lilly, Hershey, Labcorp, L3Harris, Mastercard, Royal Caribbean, Wayfair, Amgen, Apple, Atlassian, Clorox, Reddit, Rivian Automotive, Roblox, Roku, Sandisk, and Western Digital are all set to report earnings on Thursday.
Write to George Glover at george.glover@dowjones.com
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(END) Dow Jones Newswires
April 30, 2026 06:42 ET (10:42 GMT)
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